РАМКИ ЗА ФИСКАЛНО УПРАВЛЕНИЕ НА САЩ И ЕС ИЛИ КОГА ДЕЦЕНТРАЛИЗИРАНАТА ФИСКАЛНА ДИСЦИПЛИНА РАБОТИ
FISCAL GOVERNANCE FRAMEWORKS OF THE USA AND THE EU OR WHEN DOES DECENTRALISED FISCAL DISCIPLINE WORKFISCAL GOVERNANCE FRAMEWORKS OF THE USA AND THE EU OR WHEN DOES DECENTRALISED FISCAL DISCIPLINE WORK

Author(s): Alexandrina Alexandrova
Subject(s): Economy, Financial Markets, Accounting - Business Administration
Published by: Икономически университет - Варна
Keywords: fiscal policy; European Union; USA; fiscal framework
Summary/Abstract: The EU fiscal governance is a set of generally applicable supra-national rules and decisions on Community's fiscal policy taken by sovereign Member States within the coherent EU legal framework. In the US, the fiscal activity is carried out within a threetier hierarchical structure at the following levels: federal (central), state (50 "sovereign" states, including the federal territory of the District of Columbia), and local (consisting of over 90,000 local administrative units). This study aims to analyse the differences and similarities in the institutional frameworks governing fiscal policy in the United States and the European Union. The authors‘ paper presents a factual comparison between the EU and US fiscal frameworks, outlining the specific features and characteristics of the two institutionally distinct economic integration alliances. This paper also lifts the curtains on the issues of the fiscal centralization or the decentralized fiscal discipline, widely ignored within the EU.

• Details
• Contents